The value of mineral property is determined according to the special methods of valuation as described in section 7-36-25 NMSA 1978, Uranium Mineral Property.
If listing assets on the reporting forms, items purchased in the same year with a similar description can be grouped rather than listed individually. Printouts or existing lists of assets may be used if they contain the same information requested. The costs reported for all assets must be reconciled with the cost in the current assets, land, fixed assets, deferred mine development, deferred exploration and other asset accounts on the balance sheet. Give descriptions and explanations of the reconciling items and attach this reconciliation to the copy of the balance sheet that accompanies the Annual Rendition of Property.
Items of capital investment that are not taxable for property tax purposes:
1. Intangible property - see State Assessed Property Bureau Regulation 7-35-2 NMSA 1978 and 3 NMAC 126.96.36.199. Internal Revenue Regulations are not the criteria used to determine whether the property is tangible or not;
2. Pollution Control Facilities - When financed by an industrial revenue bond or pollution control bond, see Section 7-36-3 NMSA 1978;
3. New Mexico Licensed Motor Vehicles;
4. The cost of digging pits, shafts, drifts and other similar artificial changes in the physical condition of the surface or subsurface of the earth produced solely by the removal or rearrangement of the earth for the purpose of exposing or removing ore from a mine, see Section 7-36-23(B)(1) NMSA 1978.
This is the form schedule per filer category:
|Filer Type||01||04||05||M1||M2-1||M2-5||M2P||M2U||M5 CPS||M5 Sand/Gravel||06||08|
|510-Mineral: Coal (1 Year)||X||X||X||X||X||X||X|
|510-Mineral: Coal (5 Year)||X||X||X||X||X||X||X|
|540-Mineral: Sand, Gravel, Caliche||X||X||X||X||X||X||X|
|550-Mineral: Cinder, Pumice, Scoria||X||X||X||X||X||X||X|
|560-Mineral: Copper (1 Year)||X||X||X||X||X||X||X|
|560-Mineral: Copper (5 Year)||X||X||X||X||X||X||X|
|570-Mineral: Other (1 Year)||X||X||X||X||X||X||X|
|570-Mineral: Other (5 Year)||X||X||X||X||X||X||X|
The forms listed below must be completed for your rendition:
Generic CAB Forms
CAB-01: Report of Company Information
CAB-04: Report of Real Property
CAB-05: Report of Personal Property
CAB-08: Report of Leased Property
Note: Use to list all leased or rented property where the tax liability rests with lessor.
Industry CAB Forms
CAB-M1: Report of Mineral Surface Value
CAB-M2-1: Report of Mineral Value (1 Year Method)
CAB-M2-5: Report of Mineral Value (5 Year Method)
CAB-M2P: Report of Mineral Value (Potash)
CAB-M2U: Report of Mineral Value (Uranium)
CAB-M5 CPS: Report of Mineral Value (Cinders, Pumice, Scoria)
CAB-M5 Sand/Gravel: Report of Mineral Value (Sand, Gravel)